UPDATE 3-Iraqi oil ministry denies deal to up oil exports

(Recasts with denial)
By Ahmed Aboulenein
CAIRO, Sept 24 (Reuters) - Iraq's oil ministry on Thursday
denied a media report citing Oil Minister Ihsan Abdul Jabbar as
saying an agreement was imminent with the OPEC+ group to
increase Iraq's crude oil exports.
State news agency INA had quoted Abdul Jabbar as telling
state-owned daily newspaper al-Sabah that he expected to reach
an agreement soon with OPEC and its allies - known as OPEC+ -
over increasing Iraq's crude oil exports
"The oil minister did not make these comments and did not
meet the newspaper's reporter," oil ministry spokesman Asim
Jihad told Reuters. The INA article has since been deleted.
"Iraq is committed to the OPEC+ agreement and is working
with OPEC and non-OPEC producers on confronting the challenges
facing global oil markets, including the spread of COVID-19
which caused a decline in global oil demand," Jihad said.
OPEC's second-biggest producer, Iraq has failed in the past
to fully comply with OPEC+ oil output reductions, pumping above
its production targets since the pact was first signed in 2016
between OPEC and its allies led by Russia.
The reduction in exports resulting from the OPEC+ cuts has
squeezed Iraq's finances, challenging a government struggling to
tackle the fallout from years of war and rampant corruption.
Iraq relies on oil to fund 97% of its state budget.
Iraq's economy and oil sector were battered by years of
wars, sanctions and a stubborn Islamist insurgency triggered by
the U.S. invasion. Baghdad has complained it struggled to revive
its stagnating oil industry, at a time when other OPEC members
benefited and boosted their market share.
Iraq's total exports averaged 2.6 million barrels per day
(bpd) in August, down from 2.763 bpd in July.
OPEC+ has been reducing production since January 2017 to
help to support prices and reduce global oil stockpiles. It
increased the cuts to a record 9.7 million bpd from May to July
after demand plunged due to the coronavirus crisis.